The Unseen Wall Street of 1969-1975: And Its Significance for Today

By Alec Benn | Go to book overview

11
The Reality of U.S. Government Employment1

Jim Lynch had always been able to amicably resolve any differences he had with members of top management until Ross Perot effectively took control of F. I. duPont, Glore Forgan in late 1970. When Jim had disagreed with Russ Forgan or Harry Colmery or even with Maury Stans or Glore Forgan vice chairman Charley Hodge, Jim's objection, suggestion, or misunderstanding would be talked out, sometimes vigorously, but always with mutual respect.

Working with Edmond duPont and Wally Latour had been less easy. Matters needed to be carefully, deferentially and briefly explained to Edmond duPont -- but they could be explained. And while Jim and Wally often differed, Wally would always politely and carefully consider any thoughts Jim had, and they would usually reach a conclusion through discussion.

This changed under the Perot absolute monarchy in which Mort Meyerson acted as viceroy. All too often Ross or Mort told Jim what to do, told him to do it fast, and then asked why he hadn't done what he had been ordered to do before he had time to do it. Jim found himself thinking nostalgically back to the sixties; he realized he hadn't sufficiently appreciated the aura of gentlemanly reasonableness and cooperative endeavor that Russ Forgan's and Edmond duPont's old-fashioned good manners had established.

While Jim was wondering whether he should look for another job, he got a call from Bill Casey, who offered Jim an exciting future.

President Nixon had nominated Casey to be chairman of the Securities and Exchange Commission in February 1971. Casey was one of the most knowledgeable men to hold the job. For several years before going into

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